Reno – Dickson Commercial Group is pleased to announce the successful transaction at 205 S. Sierra St. in Reno, more commonly known as the Sierra Vista Professional Building. The seven-story high-rise is located in downtown Reno at the intersection of S. Sierra St. and Court St. near the Reno Justice Courthouse. The 72,845 square foot building includes multiple levels of covered parking and a layout that supports residential and ground floor commercial. Downtown Reno redevelopment opportunities have been very attractive for developers due to the region’s high demand for housing.

The Sierra Vista Professional Building was purchased on October 11, 2017 by The Grupe Company for a final sales price of $5,100,000. Grupe, a northern California real estate developer, plans on renovating the mixed-use building into 60 apartments and ground floor commercial space branded as the Loft 205 Apartments.

“This project is a significant new development for downtown and we are very excited that The Grupe Company was given the opportunity to help continue Reno’s renaissance,” said Trevor Richardson, Dickson Commercial Group. “Grupe is a forward thinking company and their vision for the Loft 205 Apartments fits well with where our city is trending for urban living.”

The Grupe Company is one of the most respected real estate developers in the Western United States and the pioneer in building innovation and sustainability. Since 1966, the Company has developed over 12 master-planned communities, 50,000 homes and 12,000 apartment units. The Company is vertically integrated, specializing in acquisition, entitlement, finance, construction, property management, marketing and disposition.

Trevor Richardson of Dickson Commercial Group (DCG) represented the Buyer in the transaction.

Dickson Commercial Group (DCG) is a locally owned and operated, full-service commercial real estate firm headquartered in Downtown Reno and serving all of Northern Nevada.